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The Fairchild Corporation Expands Structural Components Facilities; M&M Machine & Tool Co. Renamed Fairchild Aerostructures CompanyTuesday, August 15, 2000 03:37

DULLES, Va., Aug. 15 /PRNewswire/ -- The Fairchild Corporation (NYSE: FA, news, msgs) announced today that M&M Machine & Tool Co. would be renamed Fairchild Aerostructures Company, and will open an additional manufacturing facility that will significantly expand the capacity of its production and assembly operations.

"This expansion will add new capabilities complementing our manufacturing core with the value added services our customers are now seeking," stated Eric Steiner, President of The Fairchild Corporation. "Fairchild Aerostructures Company will now be able to vigorously pursue new programs requiring superior quality and on-time deliveries. At the same time it will better facilitate inventory management, JIT, process flow, supply chain management and a range of value added services for our customers," added Dr. Steiner.

Founded in 1965, and located in Huntington Beach, California since January 1994, Fairchild Aerostructures uses customized manufacturing equipment to produce specialized and unique structural components for commercial and military aircraft, rockets, and satellites. Customers who rely on components from Fairchild Aerostructures include major aerospace companies such as Boeing, Bombardier, Hughes, Lockheed Martin, Mitsubishi, Northrop Grumman, Raytheon, Alenia and Mecaplex.

The new 58,000 sq. ft. facility, scheduled to be operational by August 7, 2000, will push Fairchild Aerostructures' total manufacturing space to 116,000 sq. ft. "In addition to providing more room for additional manufacturing equipment, the extra space allows Fairchild Aerostructures to expand its clean room, assembly, production, kitting and inspection capabilities," Dr. Steiner stated. He added that Fairchild Aerostructures' work on the Boeing C-17 cargo plane, which includes performing large stretch forming operations and precision machining for wing components, will be performed in the new facility.

Fairchild Aerostructures offers comprehensive capabilities to its customers. The company utilizes high speed 3, 4, and 5 axis vertical and horizontal machining centers set in flexible manufacturing cells to greatly reduce the real cost of manufacturing. This aids in single piece/process flow. Composite machining, bonding, tool design and fabrication are also an integral part of the services performed by Fairchild Aerostructures.

Fairchild Aerostructures became a member of the Fairchild family in 1999 as part of Fairchild's acquisition of Kaynar Technologies.


About The Fairchild Corporation






The Fairchild Corporation is the leading worldwide manufacturer and supplier of precision fastening systems used in the construction and maintenance of commercial and military aircraft, and a distributor of aerospace parts. Fairchild Fasteners has manufacturing facilities as well as sales/design customer teams in the United States, Germany, France, Portugal, Hungary, Australia and the United Kingdom. Banner Aerospace, the company's aerospace distribution division, provides aircraft parts and services. Additional information is available on The Fairchild Corporation web site (http://www.fairchildcorp.com).

This news release may contain forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933, as amended, and Section 21-E of the Securities Act of 1934, as amended. The Company's actual results could differ materially from those set forth in the forward-looking statements, as a result of the risks associated with the Company's business, changes in general economic conditions, and changes in the assumptions used in making such forward-looking statements. All trademarks are the property of their respective owners.

SOURCE The Fairchild Corporation

CONTACT: George Ono of The Fairchild Corporation, 714-841-1750, georgeono@fairchild-aero.com



Quote for referenced ticker symbols: FA© 2000, PR Newswire
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